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Penske Automotive Group to pursue $3.9 billion privatization

Wards Auto · ·by G4L

PAG
PAG Penske Automotive Group Inc
$213.44 +0.31%
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  1. 1Penske Corp. and Mitsui Co. Ltd. plan to acquire the remaining stake in Penske Automotive Group to convert it into a private company.
  2. 2The transaction for the remaining 27.8% stake held by Penske Automotive Group's partners is expected to be completed in the first quarter of 2027.
  3. 3Penske Automotive Group recorded $8.4 billion in third-quarter revenue, a 5% increase compared to the same period last year.

So what's the key point?

The company decided to buy the remaining shares of Penske Automotive Group to turn it into a private company. Once this process is finished in early 2027, the owners will hold the entire remaining 27.8% stake.

Source Wards Auto · View original ↗

Related 3-line summaries

Penske Automotive Group Inc. to Go Private at $16.3 Billion Valuation The Wall Street Journal +6 · Oct 15AllianceBernstein's Q2 AUM surpasses $905 billion GuruFocus.com +3 · Jul 30Mitsui and Penske Corporation to take Penske Automotive private at $210 per share GuruFocus.com +3 · Jul 24
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